FSM511 - Financial Planning: Retirement

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Last revision date Jun 3, 2019 12:04:35 AM
Last review date Aug 29, 2019 3:38:08 PM

Subject Title
Financial Planning: Retirement

Subject Description

Developed for students pursuing careers in financial planning, this course provides a detailed look at how individuals (clients) make financial decisions related to retirement, how they plan for their retirement, and how they use their financial assets to fund their retirement.  As the course progresses, students will explore the steps of the retirement planning process, the various private and government pension arrangements, different investment products recommended during retirement planning and their income tax implications.

Credit Status
One credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Discuss the impact of changing demographics on retirement planning.
  2. Outline existing government-sponsored retirement income programs, explaining their role in the context of a client’s goals and development of a financial plan to fund the client’s retirement.
  1. Analyze multiple employer-sponsored pension plans and explain their impact on an overall retirement plan.
  1. Compare and contrast Deferred Profit Sharing Plans (DPSPs) and Registered Retirement Savings Plans (RRSPs) and analyze how each is used in a tax planning context.
  1. Make recommendations to clients around the use and structuring of RRIF's, LIF's, LRIF's, annuities, and reverse mortgages.
  1. Having identified features of the Income Tax Act that apply to taxation of retirement income, discuss the implication with clients in order to justify recommendations.
  1. In the context of a future retirement plan, calculate target retirement incomes including the impact of income taxes on funds available for retirement. 
  1. Prepare retirement income projections for clients that have already transitioned into retirement.
  1. Make recommendations as to potential and ideal retirement ages including a discussion of factors that must be considered in choosing a retirement age and date.

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Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.